Accounting Treatment for Friends - Printable Version +- Accountancy Forum (https://www.accountancy.com.pk/forum) +-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4) +--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=7) +--- Thread: Accounting Treatment for Friends (/showthread.php?tid=19788) |
Accounting Treatment for Friends - Nosherwan Huma - 07-11-2015 Assalamu alaykum, What account should be created for transactions with friends where sometimes you owe money to them and sometimes they owe money to you. You can't just create a "accounts payable" or accounts receivable" head because of the above mentioned change. Please help RE: Accounting Treatment for Friends - JamesRenault - 12-22-2015 Assalamu alaykum Nosherwan, I am James Renault and lives in Canada. For your accounting queries, I can recommend you to contact Mark Raymer my one of friend in accountancy. You can connect with him at https://www.facebook.com/people/Mark-C-Raymer/100006092161593 . I hope, my answer would assist you in some way. Regards, JamesRenault |